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SMOU members who have not written a will or have not updated it in several years were jolted out of their inertia after understanding the importance of having a will.
At the Will Writing Workshop held on 15 April at SingPost, 62 participants became aware of the dire consequences of not having a will.
The workshop speaker, Mr Patrick Chang, Founding Director of Simply Wills Pte Ltd & Advance Planning Pte Ltd, spent the afternoon sharing vital information of will writing and dispelling common misconceptions about a Will and the lasting power of attorney (LPA).
The participants discovered that while preparing a will is essential, it is not a costly affair that requires the services of a lawyer. It is also not compulsory to list all the assets in the will.
During the informative session, Mr Chang highlighted the rules and regulations; useful tips and tricks when making a Will.
For many of the workshop participants, it is their first time hearing how needful it is to write a separate will in the countries they have significant assets in; and to exclude CPF as it is not covered by the Will. Another take home tip is to inform people about the existence of their Will and where the Will is kept.
The Speaker also delved into the 9 Rules of Distribution and explained how someone’s assets will be distributed, if they did not have a will, thereby highlighting the need to prepare one as a matter of importance.
Through the lively Question and Answer segment and different scenarios presented during the talk, the participants found answers to their commonly asked questions such as, ‘What if I have no dependents? Can I write my own will? What happens to the child if both parents suddenly meet with an airborne accident? What is the difference between Will and Trust?’ and more.
The workshop provided a compelling way to craft a will.
“A highlight for me was learning about interstate law, it was an eye-opener! I have a better understanding of wills and gained much knowledge. It was a great two hours of learning and worth the time!” – 48 year old Mr Vijayachelvan S/O Silva Raju, SMOU member 25 years
“I attended the event to learn something new. I like the workshop because I learned a lot from it.” – 70 year old Mr Kwajah Fuhruddin Bismil S/O Abdul Cadher Shawdique, SMOU member 43 years
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